When the aggregate demand curve and the short-run aggregate supply curve intersect
A) the long-run aggregate supply curve must also intersect at the same point.
B) structural and frictional unemployment equal zero.
C) inflation must be increasing.
D) the economy is in short-run macroeconomic equilibrium.
D
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What will be an ideal response?
According to supply-siders, an switch from taxing income to taxing consumption to will
a. lead to a permanent increase in output-per-worker. b. lead to a temporary increase in output-per-worker. c. lead to a decline in output-per-worker. d. not change output-per-worker.
At the point of consumer equilibrium, the slope of the budget line is equal to the:
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What will be an ideal response?